About this Show

The Daily Show With Jon Stewart

Author Kevin Roose.

NETWORK

DURATION
00:31:00

RATING

SCANNED IN
San Francisco, CA, USA

SOURCE
Comcast Cable

TUNER
Channel v745

VIDEO CODEC
mpeg2video

AUDIO CODEC
ac3

PIXEL WIDTH
1920

PIXEL HEIGHT
1080

TOPIC FREQUENCY

Goldman 5, America 4, Goldman Sachs 4, Us 3, Kevin Roose 3, Green Apple 2, Jon Stewart 2, Ashley Landis 2, Washington 2, Crunchy 2, Aig 1, Medicaid Expansion 1, New York 1, Olive Garden 1, Tisola 1, Pap Smear 1, Az Pa Guy 1, Appla Yo 1, Iran 1, Yo 1,
Borrow a DVD
of this show
  Comedy Central    The Daily Show With Jon Stewart    Author Kevin Roose.  

    February 28, 2014
    9:00 - 9:31am PST  

9:00am
>> from comedy central's world news headquarters in new york this is the daily show with jon stewart. (cheers and applause) >> jon: hey, everybody, welcome to the daily show, my name is jon stewart. we have put together another frahm for you tonight that we believe is excellent, kevin roose will be here with his book "downmoney"
9:01am
either about-- i believe it's other about the culture of wall street or lil wayne, i think it's-- young money, they toll me that is what they call lil wayne, i don't-- i don't really know that. (laughter) [bleep] i am old. right now i think three hip young interns are doing this. (laughter) but in honor of young money we turn to the world's youngest money, who is a new currency, you are, yes, are you. >> along with the dollar and the euro there is a new kind of currency called the bitcoin. you can't put it in your pocket, it trades only on the internet. >> jon: it only exists on-line t is the tomorrow gachi of currency. (laughter) that reminded me, i should feed mine. i got him-- (laughter) >> jon: 12 years ago so he's 12-- i wonder how he's doing, that-- no! oh!
9:02am
are those digital maggots? he was my best friend for the 15 seconds i played with him. but is the world really ready for unpocketable money? >> i believe it is a game changer. i think bitcoin is as big as the internet. >> i see it as the new gold, gold of the future. >> jon: gold, you say! i suppose it's only a matter of time before survivalists begin to h had oard bitcoin. and rappers unveil bitcoin grills. (laughter) and then of course, ten years after that, madonna gets one too. well, i don't see what could go wrong. nothing's more reliable and secure than the internet. >> today one of the biggest bitcoin exchanges called mount gox based in tokyo went bust after it was revealed that hundreds of millions of dollars worth of bitcoins were missing. >> jon: missing? oh, you know what you have
9:03am
to do here is your problem, at the bottom of the screen is the little trash can, you know that little trash can down there you got to check in there maybe you could, you know what do you call iting there, what i do sometimes, i unplug it, plug it back in, or why don't you try that control alt-- control alt money. (laughter) and by the way what is mount gox, other than the place in a doctor sues book where a fox and a drox share a box is that-- mount gox? >> it's an acronym mtgox. magic gathering on-line exchange t started as a place for people to trade magic cards. (laughter) wait, wait, wait. a place to trade magic cards, so did my basement. does that mean my base suspect now a currency exchange? how did this happen? it's not like money that doesn't really exist can just disappear, right. >> we think they've been fooled here. >> i think there is a pretty strong likelihood of that i
9:04am
think a lot of us suspected that for quite some time. the fact that they're not talking very openly about what is going on, they dleeted all their tweets from their twitter account. >> jon: they deleted the tweets, that will solve it i think anthony weiner tried that route as well. good luck with that strategy. i bet the money resurfaces somewhere under the name carlos denairo. listen bitcoin exchange, you have a lot to learn. you can't do braz enfraud in one fell swoop. >> the institutionalized and normalize systemic fraud which brings to us our new segment, show me the money! so i can take it and put in a place where you can no longer get it. check out our professionally corrupt financial institution does business. >> banking giant credit suisse helped thousands of wealthy americans hide billions of dollars from the irs overseas. >> a wealthy customer hiding a quarter million dollars in panty hose wrapped around her body-- .
9:05am
>> jon: [bleep] swiss, let me tell you something. a decent country at a minimum would make these tax dodgers at least smug tell in their asses. make them earn that tax exempt status. at the very least make them swallow a condom full of nickels. by the way, worst sequel to fistful of dollars ever. because you see mount gox your bitcoin fraud means will you spend your days hunted down by every international high-tech law enforcement agency known to main. meanwhile if you would have institutionalized your corruption this would be the penalty. >> credit suisse a management team regrets very deeply that despite the industry-leading compliance measures we put in place, we had some swiss-based private bankers who appear to have violated u.s. law. >> jon: it turns out you did not want this money hid ren from your tax laws. (laughter) so sorry. (laughter) i have brought you
9:06am
multi-coloured swatches. (laughter) swatch for you, swatch for you. so we're good now. (laughter) i once you get in and make yourself a cornerstone in financial marketplace there is no limit to what you may accomplish/perpetrate. >> first of all, how did goldman sacks come to own uranium? (laughter) >> jon: go on. >> goldman itself actually came into the uranium market just in 2009. it bought a wider trading desk which happened to own this company called newscorp. international, sitting on approximately two and a half thousand tons of yellow cake at this time. >> jon: oh my god goldman sachs is going to have a nuclear weapon before iran! (laughter) here's how bad ass goldman is now. just the thought of them can topple a government. >> the danish center left coalition in power since
9:07am
2011 has been plunged into its deepest political crisis by the investment from goldman-- goldman sachs. >> jon: all they had to do was invest money in the country and the whole country is [bleep] we're leaving. what did goldman invest in over there. >> protestors are angry about goldman's 1.5 billion investment in state-owned utility dong energy. (laughter) >> jon: dong energy, huh? i think they sell that at a bodaga near my house. (laughter) supposedly made from real giraffe balls but i don't know, it's unregulated. not that i didn't get results with it but it's hardly worth $1.5 billion investment, unless i'm
9:08am
somehow misinterpreting everything about the corporation dong energy because of the relatively juvenile attachment to the word dong. (laughter) but you know what, look how the danish people took to the streets. you know you've made it as a corporation when the majority of the country is willing to brave subzero temperatures to keep you out of its country when you haven't even done anything yet. are you there yet, bitcoin? oh, there you go. that's-- yeah. well, that's the start of a protest. are you sure that process isn't based on magic of the tiny gathering? >> (laughter) baby step, bitcoin, we'll be right back. right back. (c [ male announcer ] when you switch to sprint's new framily plan, friends are like family, so who's gonna be in yours? let's get a sound guy and some roadies. [ male announcer ] but the more people you add, the lower the rate. how 'bout sketchy jeff? he gets billed separately, right?
9:09am
[ male announcer ] get up to 10 separate bills and everyone gets unlimited talk, text and one gig of data for as low as $25 a month each. cool. one more. we need more beard. ♪ that'll do. [ male announcer ] the framily plan from sprint. with a new price, new plan, and an all new network. visit a sprint store today. and an all new network. yo,move fast fruit flavor,fe, watermelon, blue razz green apple. your taste buds dancing. it's the jolly rancher, we make it happen. untamed fruit flavor.
9:10am
jolly rancher.
9:11am
9:12am
to prove that it's still fresh on day 30. [ byron ] what do you guys think of the smell? fresh. i forgot we were in a taxi. this is a febreze vent clip. it's 30 days old. wow! no way. [ male announcer ] febreze keeps your car fresh for up to 30 days without fading. it's 30 days old. wow! no way. an entirely new menu created with your busy schedule in mind. pronto lunch starting at $6.99. handmade italian sandwiches, flatbreads, and our signature soup and salad. starting at $6.99. and all served "pronto!" at olive garden. all the natural energy found in peanuts? caramel works. payday. crunchy, roasted peanuts and soft, delicious caramel come together to give you sweet energy. payday. fill up and go. >> jon: welcome back to the show, now. in 2012 the supreme court
9:13am
ruled that the affordable care act did not destroy the country or the constitution. but the court did allow states to opt out of the medicaid expax. now to the citizens that turned down that federal money feel now, i bet they feel good, al madrigal reports on obamacare was designed to do more than just eliminate jobs. it also gives states the option of tacking federal funds to expand medicaid for their working poor. luckily 19 states were smart enough to. >>i, leaving just a few million people without coverage. >> ashley landis of the south carolina policy council explains why it was the right call for her state. >> first of all, the cost of medicaids are going to skyrocket. it's not a question of whether this is a great plan, even if it were, we can't afford it. >> it's eventually going to cost how much. >> the idea is that the federal government will fund $100%. >> so zero dollars, you guys can't afford zero dollars. >> 17 trillion dollars in
9:14am
debt at the federal level. and even if we stop thinking about the pun for a minute, does any plan that starts with my congressman had a great idea ever turn out to be a great idea? >> you mean like civil rights? >> okay. >> clean air, clean water. >> that's medicaid expansion advocate dr. harry heiman obviously struggling with the question. >> federal highway system. >> okay,. >> immunizations. >> name one more. >> expanding medicaidance aha! -- >> aha!, not good. >> expanding access to quality health care is to the good. mammograms, colonoscopy, pap smear, not good. >> okay, okay, so even if this medicaid expansion could save people's lives -- >> we can't afford it, the congressional budget office looked at the cost of
9:15am
obamacare over ten years, and showed that it would reduce the federal deficit,. >> and you trust the congressional budget office to estimate the budget of congress? >> and he's not the only one who drank the cool aid n states that have rejected it the majority of citizens foolishly want the expansion. ashley landis explains. >> i understand that we are not delivering the most popular message here. but certainly low income families who are really struggling are going to be hard-pressed to understand all of the nuances. >> they're just so busy being needy they don't knows what's going on. >> i decided to talk to these misguided medicaid want a have's who are hopelessly hoping for help. >> i have environmentally induced asthma and don't have a way to get test. >> my wife has disk disorder. >> i know you feel like you want medicaid but medicaid expansion hasn't been approved in your state. and it's a good thing. it's better for america.
9:16am
>> that seems like the most ridiculous thing to say. how is it better for america, for people who have treatable conditions to become permanently crippled? >> we can't afford it. and your wife-- can't she just sit. >> and-- take it easy,. >> it's hard not to seem like a total [bleep] when you're saying this stuff to people. >> when this guy has asthma, he's all-- you know, it's hard to argue that. >> i think they can probably get treatment for his asthma. >> probably-- okay,. >> i don't remember the specific situation but i do know that doctors don't turn away patients in need. >> az pa guy, i just checked. >> you can probably get treatment. okay? you're good. >> i tried the walk-in
9:17am
clinic. it doesn't work. so instead i have been in the emergency room 7 times in the last two years who picks up that bill. >> you're asking me to live my life in the emergency room. >> the problem is, it's hard to talk about this stuff with the real people that actually affected by it. luckily, i had an idea. >> way better. way better. >> it's easier to pretend what they are saying doesn't affect real people. >> exactly, smiley face, you hit it. >> but we are, we're real people. >> i was talking to smiley face. >> they're taking an idea logical stand at our expense. >> all right, no kidding no one would ever say that. >> problem solved. so bravo texas tennessee florida, on all the others who stood up to the $5 million working poor desperate-- desperate for help. but just in case ever have doubts, this is for you. >> hi, i'm al madrigal, medicaid expansion say horrible idea.
9:18am
i would love to have treatment for my asthma but i know that there's more at stake. >> i'm to the going to say that. >> rejecting medicaid expansion is good for all of us. >> but it's not. >> okay. >> well, actually america can afford. >> okay. >> i want you to just say what i [bleep] tell you to. you want to be in this or not. >> we have to keep washington out of health care. >> i want washington in my health care. >> hi. i would like to have treatment for my wife's degenerative bone disorder thing but i realize that it's more at stake. >> [bleep] (laughter) lobsterfest is the king of all promotions. [ male announcer ] don't miss red lobster's lobsterfest! the year's largest selection of lobster entrees like lobster lover's dream or new dueling lobster tails with one crab-stuffed tail and one topped with shrimp. hurry in and sea food differently.
9:19am
[ laughs ] [ smooch ] [ male announcer ] kiss the rainbow! taste the rainbow! [poof!] [beep] [clicks mouse] nice office. how you doing? good. automatic discounts the moment you sign up.
9:20am
it's an invitation to stop and savor the unmistakable taste that reminds us that life is delicious.
9:21am
>> (cheers and applause) welcome back, pie guest tonight, a business and technology writer for "new york" magazine, his new book is called young money, inside the hidden world of wall street's post crash recruit, kevin roose. kevin! (applause) >> jon: a fine book, young money there you should get that it's a fine book. you know, i think everybody expects wolf of wall street to some extent. the excess, the queludes.
9:22am
>> the excess of qua lewds. >> right. >> you followed eight young recruits. and i have to say, it's more like the sad eyed lambs of wall street. they really seem like they are being-- not taken to, you know-- they seem sad. >> well, they're very well paid so obviously, but i think before the crash in 2008 people sort of expected like champagne an calfier when they got to wall street, instead these guys got like excel spreadsheets an carpal tunnel. >> is it because-- because you know, the people that you follow, do you think you followed them and they spoke to you because they are more self-reflective and so the group is maybe not as representational, or that this really is something that is occurring now down there? >> well, i think it's some of both. i think obviously people who talk to a reporter, all these banks have rules against people talking to
9:23am
the press. so anyone talking to me was putting themselves at risk of getting fired. so in some ways you have to be a little bit disgruntled or just sort of dumb to talk to a reporter. but i think-- (laughter) >> we're going go with disgruntled, how about that, let's go with disgruntled. >> all lovely people. >> and i think what's shocking for me is that i interviewed them this is not at all what they expected. they were very depressed, working these insane hours and i don't think it measured up to any of their expectations. >> what do you think-- did they expect, so, was it a moral and ethical quandtry? or just it didn't fit up to the gatsbiesque dream of them being a master of the universe. >> i think a little bit of both. some were ground down by the 100 hour weeks. >> jon: a hundred hours. >> a hundred hours that is a lot of hours. >> jon: tremendous. i put in-- hours (laughter) >> so they work very hard and their lives are very
9:24am
unpredictable. but i also think there is a sense in which the crash sort of changed what it meant to work on wall street as a young person. this used to be the sexiest thing you could do. and that's why for so many years, you know, a third of students from ivy league colleges would go work on wall street. and what we're seeing now is that that is no longer the case. more and more people are interested in going to silicon valley and fewer are interested in going to goldman sachs. >> jon: right. and it didn't seem like extraordinary abuse or extraordinary doke dense, the story os of the long hours, one gentleman writes he had to work, i don't know, five days straight, like he couldn't ever leave an at one point at 2 a.m. he broke and yelled at someone. and i'm like-- i done know, that happens here after like four hours. >> right n some ways it's hard to feel sorry for people who are making this much money out of college. but midway through the book as i was shadowing these eight people i sort of realized i wouldn't switch lives with them.
9:25am
they're miserable and it really takes a toll. i think also changes them. wall street in some ways is like joining a new religion. you have to learn entire new ways to act, talk, dress, think, an over the course of the three years they sort of morph. >> jon: and obviously the circumcision doesn't help ers icrib testg apr er utule uou atnd iscrib eraldtnohi ta capa, is a playn that. and it is all the kings of wall street in this very private affair, basically making fun of all those that they have destroyed during their career. it's a bizarre event. >> it's called the kappa beta phi an 80-year-old wall street secret society. it's made up of former heads much aig, goldman sachs, city group, anyone who is anyone on wall street is involved in this thing. they have an annual din wrer they take a bunch of neofeiths as the induckees are called, and mick them
9:26am
dress up in drag, perform skits and musical numbers. and a lot of those skits and musical numbers have to do with making jokes about the bailouts there was one song that they did that was a parody of abba's dancing queen that was called bailout king. >> jon: bailout king. and they all kind of dance around, everyone lost their-- like that kind of thing. >> exactly. i felt like i was witnessing like the i lum nationali, it was like -- --. >> jon: the induction ceremony to opus dei and when they found out you it is a chilling home. what are you doing, observing our ritual. >> they grabbed my labels. there were attempts to bribe me to not, to get me to not write the story. no one has ever been inside this thing from the outside. and so i think they were just terrified that someone had seen what they do behind closed doors. >> jon: and they have no sense that, well, they must know then that it would be perceived negatively. because as soon as they saw you they are like -- >> well, they tried-- they
9:27am
tried to say you know, we're just a bunch of friends having fun. there is nothing to see her it and but i think they knew. i mean this was in 2012, this was right after the occupy wall street movement. keeping a low profile and this was the event where they let it all hang out. >> jon: it's an incredible look at a group that the recruits feel depressed and the people without did it all still don't feel chastised. stick around for just a little bit for that. >> sure. >> jon: young money on the book shelves now, kevin roose. we'll talk a little bit more when we come back. when we come back. (appla yo, untamed larger than life, when we come back. (appla move fast fruit flavor, watermelon, blue razz green apple. your taste buds dancing. it's the jolly rancher, we make it happen. untamed fruit flavor. jolly rancher. let's see what you got. rv -- covered. why would you pay for a hotel? i never do. motorcycles -- check.
9:28am
atv. i ride those. do you? no. boat. ahoy, mateys. house? hello, dear. hello. hello. van with airbrushed fire-breathing dragons. ah! check. thank you. the more you bundle, the more you save. now, that's progressive. it's not for colds, it's not for pain, it's just for sleep. because sleep is a beautiful thing™. ♪ zzzquil. the non-habit forming sleep aid from the makers of nyquil®. when i go in there, i want to be awesome, too. so i've totally gone pro with crest pro-health. [ male announcer ] go pro with crest pro-health. [ tisola ] the first time i tried crest pro-health, it felt different, i mean, it felt clean. [ male announcer ] crest pro-health protects all these areas dentists check most. she's going to do backflips when she sees this. [ male announcer ] 4 out of 5 dentists didn't spot the difference between a professional clean and a pro-health clean. i am extremely impressed. i guess that's what happens when you go pro.
9:29am
[ male announcer ] go pro with crest pro-health. excuse me, did you say you want to see my teeth? oh, i'm sorry. to your first roll... pampers swaddlers was there. and now swaddlers are available through size 5 for many more firsts to come. ♪ pampers. all the natural energy found in peanuts? caramel works. payday. crunchy, roasted peanuts and soft, delicious caramel come together to give you sweet energy. payday. fill up and go. >> jon: that's our show, here it is, the moment of zen. >> it's so out there science fiction but some people really believe in it. this has been a real knock on the bitcoin bulls this week. >> i still don't understand it but i know it's
9:30am
>> stephen: tonight, what does the man on the street think about race in america? i don't know. i crossed it to avoid him. ( laughter ) then a surprise move from a hate group. get ready for "the aryan brotherhood of the traveling pants." and my guest, jeff goldblum, stars in the new wes anderson film "the grand budapest hotel." the interview will have a sound track of mendelssohn played on a toy xylophone. ( laughter ) the oscars are on sunday! damn! i had tuesday in the offic ( laughter ) pool.